Fusion Oil & Gas PLC
6 June 2001
Fusion Oil & Gas plc
('Fusion' or 'the Company')
Fusion Oil & Gas plc Mauritania Drilling Progress Report
Fusion Oil & Gas plc reports the following progress with its drilling
programme offshore Mauritania.
On the 25th of May the Chinguetti-1 well was plugged and abandoned as an oil
and gas discovery. The well was completed in such a way that it can be
re-entered at a later date for further testing if required.
The Scarabeo-7 drilling rig has relocated approximately 15 km to the west and
is currently drilling the Courbine-1 exploration well located approximately 95
km from the coastline of Mauritania in 1220 m of water. The primary objective
is an Upper Cretaceous sandstone interval which is older than the reservoir
encountered in the Chinguetti-1 well.
As of the 5th of June the well was at a depth of 2,094 m below rotary table
and was experiencing difficulties in setting the 20' casing. The forward plan
is to reposition the rig and commence a re-drill of Courbine-1.
The Courbine-1 well lies within Production Sharing Contract (PSC) Area B.
Fusion's interest in PSC B is 6% and the Company is free-carried through the
drilling of the Courbine well.
The Company has decided to issue routine weekly progress reports for this well
in view of a similar policy of disclosure to the Australian Stock Exchange
adopted by the Operator, Woodside Petroleum Ltd. Routine reports will be
released on the company's web page at www.fusionoil.com.au and reports
containing material developments will be reported to the Stock Exchange in the
normal manner.
6 June 2001
For further details please refer to the company's web page
www.fusionoil.com.au or contact:
Fusion Oil & Gas plc Tel (61) 89 226 3011
Level 2 Scott House Fax (61) 89 226 3022
46 Kings Park Rd e-mail fusion@fusionoil.com.au
West Perth 6005
Western Australia
Alan Stein Managing Director
Jonathan Taylor Exploration Director
Fusion Oil & Gas plc Tel 020-8891-3252
8 Old Lodge Place Fax 020-8891-1555
St. Margarets e -mail peter@fusionoil.demon.co.uk
Twickenham
Middlesex TW1 1RQ
Peter Dolan Chairman
College Hill Associates Tel. 020 7457 2020
78 Cannon Street Fax. 020 7248 3295
London EC4N 6HH e-mail Peter.Brookes@collegehill.com
Peter Brookes
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